With the new EU rules on the way, organisations need to consider their attitudes towards privacy—and quickly, to minimise the risks to balance sheet and reputation, as Chris Eaton of KPMG in Bermuda explains.

With the new EU rules on the way, organisations need to consider their attitudes towards privacy—and quickly, to minimise the risks to balance sheet and reputation, as Chris Eaton of KPMG in Bermuda explains.

KPMG in Bermuda launched the Senior School Investment Challenge (the Challenge) in 2005 as part of the firm’s ongoing commitment to education and youth development.

Under the terms of the investment club-like initiative, each school is permitted to enter a maximum of two teams per year and each team is given BD$50,000 in virtual funds to trade over the course of six months. At the end of the programme real cash prizes in the amount of $10,000, $6,000 and $4,000 are awarded to the first, second and third placed teams, respectively. These funds are then used by the schools for a variety of educational initiatives.

With support from the Ministry of Education and the heads of each of the private schools, each of the Island’s eight senior schools participates annually.

The core objective of the Challenge is to create a meaningful and perpetual educational programme for Bermuda’s senior schools to:

Stimulate interest in the concept of “investing for the future”;

Develop awareness of the capital markets and the types of securities available;

Increase exposure to international business activities as they impact global and local stock markets.

Each year the firm fields a team of mentors to support and guide the students. In addition, a number of prominent clients make themselves available to speak to the students on a myriad of topics around the issue of the capital markets.